Adage Capital Partners GP L.L.C. decreased its holdings in KalVista Pharmaceuticals, Inc. (NASDAQ:KALV - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 276,000 shares of the specialty pharmaceutical company's stock after selling 24,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.56% of KalVista Pharmaceuticals worth $3,185,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Quarry LP purchased a new position in shares of KalVista Pharmaceuticals in the 1st quarter worth approximately $97,000. Ieq Capital LLC purchased a new position in shares of KalVista Pharmaceuticals in the 1st quarter worth approximately $126,000. Corebridge Financial Inc. boosted its stake in shares of KalVista Pharmaceuticals by 12.7% in the 1st quarter. Corebridge Financial Inc. now owns 19,094 shares of the specialty pharmaceutical company's stock worth $220,000 after buying an additional 2,149 shares during the last quarter. MetLife Investment Management LLC boosted its stake in shares of KalVista Pharmaceuticals by 13.2% in the 1st quarter. MetLife Investment Management LLC now owns 21,688 shares of the specialty pharmaceutical company's stock worth $250,000 after buying an additional 2,536 shares during the last quarter. Finally, Stonepine Capital Management LLC purchased a new position in shares of KalVista Pharmaceuticals in the 1st quarter worth approximately $249,000.
Analyst Ratings Changes
A number of brokerages have recently weighed in on KALV. JMP Securities boosted their target price on KalVista Pharmaceuticals from $27.00 to $28.00 and gave the stock a "market outperform" rating in a research note on Friday. Needham & Company LLC reaffirmed a "buy" rating and issued a $28.00 price target on shares of KalVista Pharmaceuticals in a report on Friday. Leerink Partners lifted their price target on shares of KalVista Pharmaceuticals from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Monday, July 7th. Finally, HC Wainwright lifted their price target on shares of KalVista Pharmaceuticals from $20.00 to $27.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, KalVista Pharmaceuticals presently has a consensus rating of "Buy" and an average target price of $26.43.
View Our Latest Research Report on KalVista Pharmaceuticals
Insiders Place Their Bets
In other KalVista Pharmaceuticals news, CEO Benjamin L. Palleiko sold 7,294 shares of the business's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $15.84, for a total transaction of $115,536.96. Following the sale, the chief executive officer owned 395,189 shares of the company's stock, valued at $6,259,793.76. The trade was a 1.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul K. Audhya sold 2,336 shares of the business's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $13.42, for a total transaction of $31,349.12. Following the sale, the insider directly owned 122,505 shares in the company, valued at $1,644,017.10. The trade was a 1.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,835 shares of company stock worth $892,350 in the last three months. Insiders own 4.30% of the company's stock.
KalVista Pharmaceuticals Stock Performance
KALV stock traded down $0.80 during midday trading on Friday, reaching $14.01. 1,114,622 shares of the company's stock traded hands, compared to its average volume of 806,224. The company has a 50-day moving average price of $14.10 and a two-hundred day moving average price of $12.77. KalVista Pharmaceuticals, Inc. has a 52 week low of $7.30 and a 52 week high of $17.28. The firm has a market capitalization of $705.26 million, a PE ratio of -3.79 and a beta of -0.10.
KalVista Pharmaceuticals (NASDAQ:KALV - Get Free Report) last issued its earnings results on Thursday, September 11th. The specialty pharmaceutical company reported ($1.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.91) by ($0.21). The business had revenue of $1.43 million for the quarter, compared to analyst estimates of $1.97 million. As a group, analysts predict that KalVista Pharmaceuticals, Inc. will post -3.56 EPS for the current fiscal year.
About KalVista Pharmaceuticals
(
Free Report)
KalVista Pharmaceuticals, Inc, a clinical stage pharmaceutical company, engages in the discovery, development, and commercialization of drug therapies inhibitors for diseases with unmet needs. The company's product candidate is Sebetralstat, a small molecule plasma kallikrein inhibitor targeting the disease of hereditary angioedema (HAE).
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